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Jim Grant Slams Steve Liesman "The Fed Can Change How Things Look, But Not What They Are"
"I got up this early to talk, not to listen," Jim Grant berates Fed-apologist Steve Liesman as the two go head-to-head over the fallacy that QE has been a success. "The Fed can change how things look, it cannot change what things are," is the single-sentence summation of the mirage that the Fed's "dangerous monetary manipulation" has created.
Arguing that Grant is wrong because, as we saw this morning with CPI, there is no inflation, Grant blasts back pointing to the massive inflation in asset prices, art, farmland, ferraris as indicative of who the Fed's policies have helped. Grant adds to the list of obvious bubbles and even Joe Kiernan jumps in on his side against Liesman's insistence that the Fed is omnipotent (because the currency hasn't crashed... yet).
150 seconds of perfect disequilibrium at the pretense of central planning...
And, as we noted previously, here's why..."The Rich Hold Assets, The Poor Have Debt"
This chart from Citi's Matt King pretty much sums it up (and contrary to what Magic Money Tree growers will tell you, debt is not wealth).
Why is it important? Simple - contrary to the Fed's flawed DSGE models, it is the poor who are more likely to consume. And logically with their purchasing power being funneled to the rich with every $85 billion in monthly debt monetization, they purchase less and less. As the slow but steady contraction in the economy over the past five years has proven beyond a reasonable doubt.
But hey: at least Hamptons' houses have never been more expensive and the Russell2000 keeps on hitting daily all time highs. Thank you "wealth effect."
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Nice slam...try a DDT next time
DDT doesn't kill slugs.
Its fer dem cock-er-oaches.
To: CNBC
If you are in the biusiness to make money, change your tune. People will flock. The truth will liberate you. You will be able to look yourselves in the mirror.
If you are in business for idealism, You are doomed.
There is still time.
The correlation between Liesman getting botoxed and becoming the mouthpiece for the Fed is 1.
Was an embarrassment to watch, as Grant made Liesman look like a complete fool. Not that being a fool is bad or anything, just that fools have no place challenging someone that knows what they're talking about.
Stevie lost any ounce of respect when he said: "Jim when are you going to stop beating the inflation drum and finally say Hey, maybe QE is working"? Dummy. A centrally planned economy and Steve wants to argue merit? Absolute dummy!!!!
I only tuned in for Grant. Didn't watch anything else on that crummy channel.
Thank you Jim for a great commentary.
Gold just gapped lower again....damn manipulaturds
Thought leader vs. Cheer leader!
Give me a Q! Give me an E! What's that spell? More Ferraris.
Did you notice Jim Grant's jaw start to twitch just before he laid into Liesman? For people like me who like to study body language that's "I'm gonna rip your f'ing head off and shit down you neck in 3...2...1..."
Grant was there for a reason and it was not for logic and market fundalmentism.
CNBC is an entertainment network looking for ad dollars. Mr. Grant is not much different in his agenda.
We are the greater fools for following these schills.
IAMSLATTERY - and I shill for one fact. Capital can only come from the fruit of Labor.
You fokers are chasing the reversin to the mean (BTATFH, BTFD) and the biggest lie of how bonds and interest rates are in an inverse relationship the IS NOT based on a ireedemable promise.
Get a life and get to work.
Liesman conveniently leaves out the residual debt that is left over from all the QE pumping and who / how it's going to repaid. How did this monkey ever get a job on a financial network, I'll never know. Oh wait, he's on the same network as Jim Cramer. 'Nuff said.
I would have just beat LIESman with a hose.
QE has at least killed CNBC's ratings.
There is that.
Huzzah to Mr. Grant.
For his constant interruptions alone, Liesman deserves a smack -- Kernan, too.
These aggravating little blurbs are worth keeping for posterity. People in successful parts of the world will look back on these shallow buffoons and wonder how America fell so far.
Grant is strictly an economist, so doesn't tend to think in geopolitical terms. What he should be pointing out -- what ZH has been pointing out for months -- is that THE WORLD IS NO LONGER BUYING. "QE TO INFINITY" IS ASSURED FOR THE SIMPLE REASON THAT THE FED IS BECOME THE PRINCIPAL CONSUMER OF ITS OWN LEMONADE. THERE IS NO LONGER A MARKET FOR THIS STUFF. IT'S ALL A SELF-SUPPORTED HOUSE OF CARDS WAITING FOR A BREEZE TO KNOCK IT DOWN. INTELLIGENT PARTIES ARE ACCUMULATING THOUSANDS OF TONS OF GOLD BECAUSE THEY SEE Q.E. FOR WHAT IT IS, AND IT AIN'T "WEALTH."
Thanks for the lemonade line - priceless. And so spot-on to help people WTFU - I am sure we know people who don't seem to get the gravity of the situation because they listen to ideological fools like LIESman. (He so epitomizes the Marxist media.)
I loved Grants comment (paraphasing) - "If I wanted to listen to you, I could have stayed at home in bed. I can hear you anytime."
Bravo Mr Grant! Stuffed!
And it's worse than you think!
Jim Grant finally shows up to the party.
Like....where you been dude?
Key viewer participation at 39k...........FAIL
Oh, and they dropped the dreaded N-Word.......................
http://washingtonexaminer.com/cnbc-airs-song-with-n-word-apologizes/article/2540834
What's more amusing than to listen to the experts on low volume when my louder dreamy music melts the true tragegy as it is; you can catch the rare big tuna with a brain by just looking and waiting a month or so.
No Dona K.... they are doomed and will stay doomed.
"To: CNBC
If you are in the biusiness to make money, change your tune. People will flock."
"The people" have no money. So this would not be a profitable procedure.
No money necessary. Eyeballs is what counts
Will never happen since Comcast owns the network...Comcast execs are POS to begin with but as long as they have the captive sheeple paying up each month to have this crap piped into their residences it will continue. Sheeple pay >$100+ for cable/internet/phone (aka CC "Triple Play") each month-> cable fees used to pay execs and talent that spew the crap to the sheeple injected with advertisements for necessities like "Sham-wow" -> Comcast gets additional $$$ from advertisers to ensure that the misinformation and socialist views of the Comcast executives headquartered in one of the bastions of progressiveness that is Los Angeles, New York or Philadelphia is delivered by a handicapped, veteran lesbian, who is a black, Hasidic Jew from the Philippines. Digest and repeat cycle.
Stevie boy needs a good ass whoopin ....
can't whip his ass if he has some fed dick in it...
a club wantabe
but stevie, the club dont want you
cause
you
are so
fucking
stupid...
Always fun to see Liesman bitch-slapped- sometimes just being louder than your guests isn't enough, Stevie.
It's not very satisfying when Liesman is left for dead in the debate but is too stupid to know he lost. It's like killing a zombie.
Classic...
Good times...
Steve Liesman, "Keep on Trucking", Trucking on down the Mandarin's line.
You have to remember, Liesman is a paid shill and part of his job to incite debate. I'm sure he knows he looks bad, but at the end of the day, he has done his job and still takes home a big paycheck.
But that isn't HOW he's doing it. He isn't presenting this as "The Fed's Opinion on the subject" he's presenting it as STEVE LIESMAN'S OPINION.
In one case you're reporting somebody else's case for purpose of discussion, in the other you're basically being a shill, as you say.
It's a big difference. He could get the same discussion going without being a jerk. I COULD MAKE THAT DISCUSSION HAPPEN WITHOUT BEING A JERK. He chooses not to. Any wonder people want to punch him through the TV screen? Any wonder Jim Grant basically did it to him with words?
Better Steve Liesman than me to promote a rhetorical rant of circular reasoning rather than consider the opponent's point and earn the fat paycheck struggling with a thin tail rather than the fat ones that keep coming; rather like the rich man directing a living hell while burning in the warming flames of all its infernal glory.
you couldn't pay me enough
to look that bad..
Grant handed LIESman his ass.
You Go Froderick!
And somehow after Grant hands him his ass... Liesman's responds -- "when are you (grant) going to admit you are wrong?"
The only one worse than Lies Man is Jon Harwood.
Sad, little crying fuck.
Careful, don't talk about his infidelities. He gets kinda snappy.
Wait, no...
... there is one worse than both.
Jay the Carnie.
Jim Grant is right, but unfortunately his arguments are too articulate and long-winded for Liesman's small brain. A better, more succinct answer would have been more fitting for the sheeple watching TV.
Obviously, preserving asset values makes those WITH assets richer, and those without them relatively poorer. I heart Jim Grant, but the man is too damn educated for CNBC.
"I feel that by having CNBC on I have my pulse on the bottom 20% of the gene pool." -- Rudolf E. Havenstein @RudyHavenstein
Hah! Funny comment and sublimely funny handle.
I agree. The way to answer Liesman when he says "Where are the bad effects?" Is to answer: "It's just like living off credit cards. Everything is fine and dandy until your card gets declined. Then it goes from everything is fine to lights out in a single moment".
Lies-man. Fitting name for someone paid to get on TV and parrot govt lies ...like "no inflation".
These people have no principles and no soul. They'd sell their mother for a paycheck.
But 98% of Americans are the same way, and that's why America isn't worth saving.
And yes you're right, everything goes along seemingly well till the credit card get's declined, or in this case the currency collapses, which will be just as sudden ...and nobody could have seen it coming of course.
The really dangerous ones believe their own bullshit. When they present their opinions to the public as fact and do it with energy and emotion, the sheeple buy the rhetoric and will parrot it to one and all. We are doomed as no one thinks for themselves anymore. The advent of the internet hasn't helped as you can have an answer to virtually any question in under 0.034523 seconds.
Jim Grant was the older brother from College visiting the 8th Graders for lunch. The dessert sucked. For the1950s videokiddies, like Sidney Fields obliged to listen and learn from Lou Costello.
Jim Grant is great but he is no Jake the Snake Roberts.
ehem?
Perhaps Ric Flair rings a bell?
I've said it before, when this motherfucker blows it is going to be spectacular. The perverse thing is, the bastards who have benefitted the most from it probably won't feel anything ( unless they are pulled out of their Rolls Royce's and beheaded like a neo french revolution ). But I can't wait to see what stooges like LIEsman and Paul Robin Krugman have to say when the tide goes out and their babydicks are exposed.
Agreed, but when it hits, I think the free market reaper, as Stockman calls it, will erase and recall all ill gotten profits. It will hurt them, but the government's next response will make sure no pain is felt.
"...It will hurt them, but the government's next response will make sure no pain is felt."
No pain felt by the current crop of successful lobbyists who continuously report on the efficacy of the contributions they so direct.
Agreed but like Communist apologists before them, they will say, "They didn't go far enough." But then the apologists got a look at Pol Pot and the Khmer Rouge - that finally shut them up (for a few months at least). What will finally disgrace these socialist, confetti printing idiots? A trillion dollar coin didn't. How Krugman - that rat-faced creep - can show his face after that is beyond me.
liesman, lies, man.
this pride in staving off inflation holds no water for two major reasons, besides of course not counting in energy and food.
for one, we export our inflation courtesy of the dollar being the world reserve currency. and we all know that is changing. two, the QE has gone directly to the banks who have done nothing to create loans for people or businesses, but rather have taken these funds to the investment casino to enrich themselves, thus the obvious inflation in art, exclusive real estate, and all the other assets only the wealthiest can buy.
A sort of dead silence and blank stares as Grant responds to question about where inflation is, "it's in art, farm land, ferrari's." That nailed Liesman to the wall.
LIESman is the ultimate FED shill and cheerleader.
Funny to see him get called out today by Jim Grant and Joe Kernan. Even BJ Becky and Sorkin were against LIESman today.
Morons are questioning Grant
Their thoughts are an ignorant rant
Dimwitted shills
High on blue pills
When asked to debate him, they can't
Stevie Boy took quite a chance
Advantage is clearly Jim Grant's
The producer, half awake,
Says "Cut to a break"
As Liesman has sharted his pants
Baghdad Steve
would love to join in on this spectacular rant but for some reason can't stop being drunk instead
The line " I came here to talk not to listen " was hilarious.
"Jim Grant Slams Steve Liesman"More like fucks him over....
Amazed they even let Grant on the show. Kind of contradicts the propaganda.
What is up with that ?
They think they will bring him on as a whipping boy, but it's kind of hard to fuck with the truth.
1000+
Ratings are in the tank. Sheeple are tuning the propaganda out as they are not experiencing what they are told they are experiencing. Critical thinkers tune in just for entertainment as one minute the cheerleaders will say the economy is taking off like a rocket and the next minute they say that the FED shouldn't taper until 2099 and Congress is crazy for not extending unemployment uninsurance to 520 weeks.
It actually struck me the other afternoon when I had Fast Money on the tube and Melissa made the point that MSNBC was their "sister" station. Pretty much sums up the editorial content policy at CNBC.
So that when this all goes down the drain the central planning shills can say see "we told you so." That way they can explicate the subsequent chapter in the adventures of central planning with reputations ostensibly intact.
Grant was their token disenting opinion. They invite folks on who they know will have an opposing view and then shout over top of them until they are "out of time". It's similar to Fox "fair and balanced".
<--- Green arrows for Papasmurf (his was not working)
Gargamel fukkin broke his green arrow.
Exactly... they have a stable of the dissenters who get cycled through... if it's not him, then it's taleb, bass, schiff, faber, etc... Personally, I prefer Grant's presentation because he's clearly a step above as far as understanding and scientific fundamentals/academics... I think many of the other guests/dissenters are more intuitive thinkers/anecdotal experience hipshooters (traders), not necessarily wrong (and tending to arrive at the same conclusion), just a different approach... and the fabers of the world tend to get a lot of traction simply because of outlandish presentation/character... Jim Grant has the tv personality of a tree stump, but still manages to be captivating discussing the minutia of bonds... difficult chore...
Let's not forget that Dr. Faber made Billions of dollars being righter than other people on major market decisions. He doesn't just get by on "outlandish presentation"; most of which I suspect is just his native accent.
Yeah, he got the name Dr. Doom from his accent...
Trying to appeal to Mr. Grant's subscriber base. That's why he's on the show. Steve fratboy Liesman just screwed the pooch.
They are trying to @Belie@ the guy.
cnbc is irrelevant
Jim Grant uses the common sense of telescopic vision, Liesman is a celestial mechanic, minted by the dozen when Galileo Galilei was pointing out and getting drowned out.
"THERE IS NO MODEL"
LIESman is a fucking cocksucking jerk
Fuck off, Lies-man!
It's that same sh_t as always. Now get this; Sh_t trickles down, and money trickels UP. You give money to the top and it just stays there. Give the same money to the bottem and it's gone, on it's way to the top.
fonz, cnbc and yahoo news?????? if i didnt know any better, id swear you were hardcore sheeple.....
http://www.theonion.com/articles/encouraging-economic-report-reveals-more-americans,34814/
That's better.....
I'd say the onion is spot on. " it will help the local economies, but they will be broke and devastated in 18 months" the krugman dream come true!! Maybe next we can have a small business bubble. Who needs fundamentals when the S&P is at all time highs.
Here's another one from the onion last week that might hit even closer to home with ZH'ers ;)
http://www.theonion.com/articles/worldwide-jewish-conspiracy-worried-it-came-down-t,34815/
Who could forget this
http://www.youtube.com/watch?v=yC6po8dEXc8
These morons should all have their names noted and a front seat when the hanging starts...
They will be made to build them first, and someone needs to test that the "drop" is right.
"build"?
Tie them to the bumper, crank up some banjo music on the car stereo, and take them for a ride around the block while the kids pelt them with snowballs .
Easier.
Edit: well, empty their pockets first.
"names noted and a front seat"
I really don't think the process will be that organized, except on a Mel Brooks or SNL skit.
I'm sorry that the degree of anger caused by this has gotten to the point of extra-judicial executions being called for. There are so many shades of criminality and complicity (more than half voted for Obama, almost half receiving Government bennefits of some kind or another, FIRe and unconsitutional Gov. employees), the number of truely 100% inocent victims is probably a small fraction of the US Population.
In the spirit of John 8:7 "Let he who is without sin cast the first stone." I hope many of you will look into the Truth and Reconciliation tribunals that South Africa set up post-apartheid.
It'll be a cold day in hell before I look to South Africa for anything except another example of Africans fucking something up beyond belief.
By the way, when are they going to have a second round of Truth and Reconciliation tribunals to hold the current crop of blacks who've wrecked the country responsible? Oh that's right - never.
Spare me your bleeding heart bullshit.
http://www.zerohedge.com/news/2013-12-16/big-dog-wild-cat-and-cheetah-me...
MT I go way back as a trapper so i see you as a brother in arms.
Okay, here I am with my stone. But what's the point? One freaking stone? Maybe 100 tons of anti-matter would be a good start.
You know what? If 90% of the earth population deserves to die, then justice is for 90% of the earth population to die. So whatever that number is, 1%, 5%, 10%, 25%, 50%, 90%... so be it - and the world will be an infinitely better place thereafter.
Stevie is a well paid shill, though. He knows well which side of his bread is buttered.
Yes, that was really obvious the way he threw in that intentionally obtuse "well, I thought the criticism of the Fed is that it was hurting savers!", right after Grant exposed everything going wrong with the QE agenda! Way to deflate and confuse as many sheep as possible!
I understand the good-cop vs bad-cop tactic used by the intelligencia in order to extract information, but the good-cop vs stupid-cop scenario is a new one on me.
I wish Steve Liesman would get the hint already and crawl under the rock he crawled out from under.... Then we all get to take turns stomping on that rock....
hey
be nice to rocks..
Liesman found his joy covering the Dead; that's more like a grave blanket than being under a rock, but no spinners dancing tonight.
How much does the Fed pay Liesman to be such a tool?
Reallity: Manipulated Markets will not end until a massive act of urban thuggery jolts the PTB into panic, which then unleashes the out of control monster.
I've been following this tug of war between QE and pre-QE economic life and it is quite clear - we the rational people are alone until the whole charade goes down; and then we are all alone.
Roll out the DIY Guillotines, anyone?
Can we make Guillotines with 3D Printers?
Senator Elizabeth Warren, pre-beheading, "You didn't build that."
Don't bother, too complex. Are you going to clean up the blood and shit? It's unsanitary. Put tight grandma rubber underpants on them and use the "Killing Fields" plastic bag over the head. These are two modern conveniences. Slip them into a Fema coffin, voila'. No muss, no fuss, no guillotine, no hangin' tree, no gas chamber, no bullets.
Why do you always make things so complex? It's making me mad at you!
Dude, hope I never get on your bad side.
So, no sharks with frickin' lazer beams on their heads I guess.
liesman is the prophet of lies
Liesman is such a Fed ball holding piece of shit.
I don't even like Grant, but he owned him here.
Yes, Liesman is right: we didn't get our "QE inflation".....but that's only because they are counting foods and other consumer goods. In cities, rent is up. Grant mentioned that art has exploded. Bitcoin has exploded. Healthcare costs are going to go up once the ACA is in full effect. Job creation and wages are stagnant.
One great way to ensure prices of food and other services is to centrally plan both demand AND wages. The Fed has controlled wage levels behind the scenes (working as an arm for the U.S. Chamber of Commerce) since the 1970s. Yes, you can control inflation if you suppress wages; just ask the Bank of China.
And what's going to happen once they pull back a little? Nevermind completely stopping printing all together (which they will never do b/c they can't).
QE is for Greenwich, CT and those who defend the Fed are *paid* to say otherwise.
your confused...
Bummer...and I tuned in to hear Tepper
I'm still trying to figure out why a week ago the Liesman claimed Taper is coming tomorrow which caused a four day sell-off. Was he instructed by the Fed to claim that? Then when no Taper is announced tomorrow we can rally another 5% by year end capping off one of the best years eva?
I wonder if one day we will find out the truth...That liesman is the Feds Dan Dorfman.
I would so like to punch Steve Liesman in the face.
Walk up to him and go 'Hi Steve, I love you pseudo-economic and simplified thinking. You disgust me and every chinese person working for a dolar per day. Then BANG, hit him right on the nose"
"There is no inflation for the las 5 years, the government numbers show no inflation" Liesman. He is correct that the goverment #s don't show inflation. Liesman must be an attorney.
Yeah, and the BLS shows the unemployment rate at 7%. They are proven to be fucking liars, but the scale of their charade is truly mind boggling.
"The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is"
-- Winston Churchill
"When a film is finished; it is indestructible." - director Francesco Rosi
Oh great....LIESman opened his mouth and I projectile vomited....FUCK LIESman...
"I can listen to you at home staying in bed"
I Love Jim Grant.
we have lived in a society where "it's all good" has been the motto for 30 years. Liesman just continues this mantra to pacify the masses.
We have to look at the other part of the mantra "...unil it isn't". That's why we we stack: gold, silver, bullets, beans, butter...............
The 7:55am dialogue with Jim Grant on CNBC this morning is worthy of listening to and transcribing. Articulate and concise.
'Jim Grant is right, but unfortunately his arguments are too articulate and long-winded for Liesman's small brain'.
Lets not forget the average attention span of the CNBC viewer, everything has to be crafted to fit the audience it's aimed at. CNBC grows the crop for the banksters to harvest.
I would give the last month of my life to get a "get out of jail free" card that allowed me to give Stevie-boy a beating. I hate that mf shilling, lying, banker blowing, wall st ass licking, cocksucker.
"it is the poor who are more likely to consume. And logically with their purchasing power being funneled to the rich with every $85 billion in monthly debt monetization, they purchase less and less."
Sub Prime auto loans say otherwise.
More of the middle class is joining the poor, resulting in less income to spend.
SubPrime auto loans tell the story that consumption is being pushed down the food chain. I wondered how there were so many new mercedes owners around in my town and probably 75% Obama voters, then I read the subprime #s and realized they are allowing anyone with a pulse to buy and lease.
Plus, the manufacturers are holding ever-higher inventories for that wonderful day that sales go to the moon, I dunno, based on rising interest rates? Doesn't make sense to me, either.
I love that Grant said the Fed can change how things look but they can't change what things ARE.
This cannot end well.
"The Fed can change how things look, it cannot change what things are," is the single-sentence summation of the mirage that the Fed's "dangerous monetary manipulation" has created."
This has been going on for decades, though. A century, in fact.
Leisman douche bag
Arguing with idiots is a fool's game.
The FED *really* needs a better apologist shill than Liesman. Hey, Liesman, how much do people pay for your market analysis?
Liesman lies, man.
In a couple of years they'll be bringing back this guy for apologies. Not that we'll get any. Peter Schiff is still waiting for his penny from Laffer.
I can lay in bed and listen to you! LOL
It is interesting that 2 years ago (or there abouts) the idea that the Fed was manipulating markets etal was a taboo and ridiculed subject in the MSM. Now they have to enable guys like Liesman and Hilsenrath (sp) to tell us why this is a good thing. Denial is no longer even a considered strategy.
The Fed does not like to be in the spot light, they prefer to be under the radar. The fact that they are no longer able to hide what is transpiring is revealing.
The game is nearly up.
sschu
On the other hand, with all that debt, the poor could really benefit from a massive, one-time devaluation.
10-for-1 anyone?
No inflation? Leisman is quoting official BLS statistics which are developed to show very little inflation (so the Go'bment does not have to increase its SSI payments). How do you reason with someone like that? MSNBC needs to become part of PBS.
In real terms annual inflation in Colorado Springs was:
2011 8.5%
2012 8.7%
Denver Colorado was:
2011 9.1%
2012 9.1%
See Chapwood Index: http://www.chapwoodindex.com/
I just hope Grant is around to see this whole facade come crashing down. Actually, I hope I'm still around.
Face the truth: nobody cares but those whom you are helping.
Well, the few remaining sane people are being hounded by the crazy ones - "Admit that you are wrong! Admit that you are wrong!! You have been wrong for 5 years!!".
And together with FB being added to S&P 500, this is beginning to look a lot like Christmas... of 1999!
The FED has decreased the value of a dollar by approx. 95%. What more does anyone have to say? Now, of course, there have been beneficiaries of this disappearing act but they certainly don't live on Main Street....
Actually it's closer to 98%, but what's a few measely percentage points between friends?
Chicago Michael Jordan Mansion house auction yesterday; $ 13 Min Reserve Bid vs for sale of $ 26 million?
Auction? no bidders 0 Zilch, none.
Must be location, said the FibuRealtor
Real estate is an investment, giggle.
Who wants to buy an expensive property made for a basketball player in Illinois, the tax and spend state?
A bankrupt state where already high taxes will keep going up.
QE has been a great success. They should tripple it. While they're at it, they should increase the minimum wage to $50/hr... Afterall, we are in a "recovery".
LOL
It is obvious that the FED has manipulated the thermometer for the 1% but has not changed the weather for the bottom 80%.
i have watched for over a decade the big money change residence again and again across the globe in search of profit while leaving behind victims.
To add insult to injury that profit is taxed less and less as tax havens get fatter and fatter while the equity of society is drained.
Hard to say if things will explode or whether we will one day resemble North Korea.
i'm beginning to believe that the Liesman is starting to believe all the bullshit he spews out. anyway, you guys have a great CHRISTmas.
It is rather bizarre to consider the arrogance it takes for a business reporter (even a longtime one) to think you can go toe-to-toe with someone like Jim Grant.
Liesman is truly delusional. He reminds me of a Nazi party member...blindly swearing allegience to his masters.
An imaginary dialogue between the “bosses”
http://failedevolution.blogspot.gr/2013/12/an-imaginary-dialogue-between...